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  • *Fosun- led consortium offers 23.50 euros/shr for Club Med. PARIS, Dec 1- Chinese billionaire Guo Guangchang on Monday sweetened his bid for Club Mediterranee at the last minute, outbidding Italian tycoon Andrea Bonomi's offer in France's longest-running takeover battle. Bonomi has until 1700 GMT on Dec. 17 to make a counter-offer and a spokesman for Global...

  • NEW YORK, Dec 1- U.S. oil producers have been racing full-speed ahead to drill new shale wells in recent years, even in the face of lower oil prices. The Organization of Petroleum Exporting Countries last week agreed to maintain its production quota of 30 million-barrels-per-day, despite a 30 percent drop in oil prices since June, triggering an additional 10...

  • "The news overseas has been bullish for Treasuries," said Jake Lowery, a portfolio manager at Voya Investment Management in Atlanta. Wall Street dropped in early trading, and the MSCI world equity index fell 0.83 percent to 422.29. German manufacturing activity shrank in November at the fastest rate in 17 months, a survey showed, and Moody's Investors Service...

  • Global factory growth at 14-month low in Nov -PMI Monday, 1 Dec 2014 | 11:00 AM ET

    LONDON, Dec 1- Global manufacturing activity expanded at its weakest pace in over a year in November, with new orders rising at their slowest rate since July 2013, a business survey showed on Monday. JPMorgan's Global Manufacturing Purchasing Managers' Index, produced with Markit, fell to 51.8 in November from October's 52.2. The PMI combines survey data from...

  • Apple tumbles 3 percent in one minute of trading Monday, 1 Dec 2014 | 10:55 AM ET

    NEW YORK, Dec 1- Apple Inc shares tumbled in early trading on Monday, briefly suffering their largest price drop in at least three months on an unusual spike in volume. Large sell orders were seen at 9:51 a.m. EST, with more than 6.7 million shares trading in a one-minute stretch, the heaviest minute of trading in Apple since Oct. 29. Morgan Stanley strategists...

  • *SNB may join ECB in buying bonds to protect franc-euro cap. LONDON, Dec 1- European Central Bank efforts to ward off deflation could be supported by the Swiss National Bank if it recycles euros bought to defend its cap on the Swiss franc into top-rated bonds such as those of France and Belgium. "This puts France and Belgium into the sweet spot," said Michael Leister,...

  • The local government had been planning to shut its bus and city train service after the island's Governor Alejandro Garcia Padilla was unable to convince enough members of his party to agree to raise the tax on crude oil by 68 percent. Garcia Padilla said on Sunday that the oil tax increase would cost a typical Puerto Rican family $1.17 a week, while a planned tax...

  • BUSINESS-NEWS-SCHEDULE AT 1600 GMT /10.30 AM ET Monday, 1 Dec 2014 | 10:43 AM ET

    Asia, Europe, U.S. factory activity slows despite price cuts. LONDON/ SYDNEY/ NEW YORK- Manufacturing growth across Asia, Europe and the U.S. slowed in November as heavy price cutting failed to revive demand, surveys shows, more evidence that a feeble global recovery may be grinding to a halt. LONDON- Oil prices hit five-year lows as slowing factory activity in China...

  • Stock markets could gain despite Big Oil's pain Monday, 1 Dec 2014 | 10:43 AM ET

    LONDON, Dec 1- Despite hundreds of billions of dollars wiped off energy company shares since June by the slide in oil prices to a five-year low, there are reasons to be cheerful about the likely future impact on global stock markets. If current prices hold through 2015, global GDP growth could rise by around 0.3 percentage points, or around $250 billion, according...

  • NEW YORK, Dec 1- Ally Financial Inc became the largest U.S. retail auto lender in the third quarter, displacing Wells Fargo& Co for the first time since the start of 2013, according to a report from Experian Automotive on Monday. Much of Ally's growth came from financing used car sales, an area where the former in-house finance arm of General Motors Co has been...

  • MEXICO CITY, Dec 1- Mexico's manufacturing sector sentiment rose in November to a 22- month high, a survey showed on Monday, as output and new orders jumped in a sign that industry in Latin America's No. 2 economy may be gaining steam. Mexico exports mostly manufactured goods and sends nearly 80 percent of its exports to the United States. Mexico's finance ministry...

  • DUBLIN, Dec 1- Ireland's Avolon Holdings launched an initial public offering valuing it at up to $1.86 billion on Monday, as a Chinese suitor confirmed it had dropped its bid for the world's ninth largest aircraft leasing firm. Avolon filed for a New York listing in June, only to be approached by China Investment Corp and Chinese state aerospace firm AVIC Capital.

  • LAGOS, Dec 1- Nigeria's central bank failed to keep the naira within its new target band again on Monday and the currency posted a record low closing level as investors continued to fret about the impact of plunging oil prices on Africa's biggest economy. Oil sales provide around 95 percent of Nigeria's foreign exchange and the naira is being driven down by...

  • WASHINGTON, Dec 1- The U.S. Supreme Court on Monday declined to revive a New York real estate developer's lawsuit against the leaseholder of the destroyed World Trade Center and two airlines seeking environmental cleanup costs related to the Sept. 11, 2001 hijacked airliner attacks. In 2008, the developer sued American Airlines, United Airlines and parent...

  • *No successors yet named for departing CEO, chairman. VIENNA, Dec 1- With its ambitious expansion plans in doubt and top management in flux, oil and gas group OMV is struggling to persuade investors that Austria's biggest company can master increasingly difficult markets. Chief Executive Gerhard Roiss is leaving nearly two years ahead of schedule in June 2015,...

  • U.S. factory activity growth slows in November - ISM Monday, 1 Dec 2014 | 10:00 AM ET

    NEW YORK, Dec 1- The pace of growth in the U.S. manufacturing sector slowed less than expected in November, while a gauge of prices paid fell to its lowest in over two years, according to an industry report released on Monday. The Institute for Supply Management said its index of national factory activity fell to 58.7 from 59 the month before. The gauge of prices paid...

  • UPDATE 7-Oil rises after hitting five-year low Monday, 1 Dec 2014 | 9:59 AM ET

    *Oil loses more than 10 pct since Thursday's OPEC meeting. LONDON, Dec 1- Brent crude oil rose on Monday to above $71 a barrel, recovering from a five-year low it hit earlier as investors looked for a price floor after last week's OPEC decision not to cut production. Brent hit a low of $67.53 a barrel, the lowest since October 2009, before rising 85 cents to $71.00 a barrel...

  • *Gold rallies 2.6 pct to day's peak, silver bounces 6 pct higher. LONDON, Dec 1- Gold rebounded sharply on Monday from the 2 percent losses it posted earlier after Switzerland voted against a proposal to boost its gold reserves, driven by a weaker dollar and softening appetite for assets seen as higher risk, like stocks. Gold slid as low as $1,142.91 before bouncing...

  • FRANKFURT, Dec 1- Momentum is building for the European Central Bank to launch a programme of sovereign-bond buying to boost the struggling euro zone economy with most signs pointing to March for a decision. With Germany, Europe's economic powerhouse, refusing to unleash fiscal stimulus and other governments taking time to reform their economies,...

  • Dec 1- Huntsman Corp said it would cut about 900 jobs and that it was exploring options to reduce capacity at its titanium dioxide, or white pigment, business. The chemical maker, which bought Rockwood Holdings Inc's pigments business for $1.1 billion in October, had been betting on a turnaround in demand for titanium dioxide. "They need to take some action to help...